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Tremor is fast

July 14, 2022
By Chris Wilkens, Chief Product Officer

Panorama dramatically speeds up the placement of reinsurance. Consider the following statistics from Tremor’s placements:

  • Reinsurers who participated on Tremor learned their final lines within three business days of submitting their authorizations.

  • Cedents who placed with Tremor finalized coverage in five business days from the time Tremor started collecting authorizations, without having to invest time to set firm order pricing.

By comparison, a traditional firm order terms (FOT) process often takes more than a month to resolve the same issues. Speeding up the process benefits everyone – reinsurers can make more effective use of their capital during busy renewal seasons, and cedents love the ability to price and place risk in a matter of days.

Minimal commitment period

As a reinsurer, Tremor helps you leverage your capital more effectively because it dramatically reduces the time it is locked up during a placement. Once you authorize coverage, your capacity is committed until your line is finalized – we call this the commitment period. The sooner your line is finalized and the shorter the commitment period, the sooner you can redeploy unbound capacity.

The FOT process limits your ability to redeploy capacity because it is committed for weeks. Traditionally, your capacity is locked up while the cedent negotiates terms and signs down reinsurers to finalize the placement. This often takes 3-5 weeks. In peak renewal seasons, such a long commitment period typically means that you must authorize most of your renewals before learning of unbound capacity.

In contrast, Panorama returns final lines in days so that you can easily redeploy unused capacity. Historical transaction data shows that most reinsurers commit capacity for less than 4 business days, with an average commitment period of a mere 2.37 business days. An individual reinsurer’s commitment period will depend on its own behavior (does the reinsurer authorize early or wait until the last minute?) and the cedent’s urgency in wrapping up the transaction, but even in the worst case, reinsurers’ capacity is committed for a fraction of the time it would be in an FOT process.

Panorama’s quick turnaround means that you can immediately incorporate unbound capacity into your authorizations on other programs, helping you make the most effective use of your capital during busy renewal periods.

On average, unbound capacity is released 2.73 business days after being authorized, allowing reinsurers to redeploy it elsewhere almost immediately.


As a cedent, Tremor helps you lock in your coverage quickly and efficiently. With a traditional process, authorizations are the start of a multi-week effort to negotiate final terms and finalize lines. With Panorama, terms are discussed before coverage is authorized to the placement can be finalized in days – lock in your coverage early in a hard market, squeeze in your placement before a deadline, or simply enjoy a better placement experience.

On average, lines are finalized in 5 days once Tremor starts collecting authorizations.

Learn more

Modern market design is the key to Panorama’s speed. If you want to learn more about how Tremor’s speed can benefit you or about our Panorama process, we’d be happy to give you a demo or answer your questions. Reach out to us!